DTN Closing Livestock Comment 08/21 16:27
21 Aug 2017
DTN Closing Livestock Comment 08/21 16:27 Livestock Futures Shift Lower on Fundamental Pressure Continued weakness in cash hog values and the expectation that additional supplies in the cattle complex will keep traders on the defensive left prices mostly lower Monday. Light trade was seen late in the session, but this followed overall pressure through most of the livestock market. By Rick Kment DTN Analyst GENERAL COMMENTS Cash cattle trade remains undeveloped following generally mixed showlists that were distributed through the morning. Asking prices are still hard to define, but additional clarity will be trought to the market through the upcoming days. Most active trade is expected to be delayed until Wednesday or later, and could be pushed off until after the Cattle on Feed report Friday. According to the closing report, the national hog base is $1.51 lower compared with the Prior Day settlement ($68.00-$74.00) weighted average $71.85. Corn futures moved lower in light activity. September futures were 3 cents lower Tuesday. The Dow Jones Index is 29 points higher with the Nasdaq down 3 points.